Cords Cable Industries Limited — Annual Report 2021

Jun 30, 2021

CORDS CABLE INDUSTRIES LTD.

REGD. OFFICE: 94, 1st Floor, Shambhu Dayal Bagh Marg, Near Okhla Industrial Area Phase-III, Old Ishwar Nagar, New Delhi - 110020 Tel: +91-11-40551200; Fax: +91-11-40551281 Website: www.cordscable.com ; Email: ccil@cordscable.com CIN: L74999DL1991PLC046092

Date: 30.06.2021

Asst. Vice President	Asst. General Manager
National Stock Exchange of India Ltd.	Dept of Corp. Services,
Exchange plaza, Bandra Kurla Complex	BSE Limited
Bandra (E)	P.J. Towers, Dalal Street, Fort,
Mumbai - 400 051	Mumbai: 400001.
Symbol:CORDSCABLE	Script Code: 532941

Subject: Results / Outcome of Board Meeting

Dear Sir,

Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform the exchanges that the Board of Directors of the Company at its meeting held on today i.e. Wednesday, June 30, 2021 at the Registered Office of the company considered and approved the following:

• 1. Audited Standalone Financial Results for the 4th quarter and Financial Year ended March 31, 2021 along with Cash Flow Statement, Statement of Assets and Liabilities and Auditors Report (Unmodified opinion) there upon issued by the statutory Auditor of the Company.
• 1. On the recommendation of the Nomination and Remuneration Committee and subject to the approval of Shareholders, Board of Directors have approved the appointment of Mr. Rahul Mohnot (DIN: 00488475), as an Additional Director under the category of Independent Director for a period of 1 (One) year w.e.f. 30.06.2021.

Brief profile of Mr. Rahul Mohnot pursuant to Regulation 30 of SEBI (Listing Obligation and 2015 read with SEBI Circular Disclosure Requirement Regulations) Regulations, CIR/CFD/CMD/4/2015 dated Sept 9, 2015 is attached as Annexure -I.

These results are been published in the newspapers.

The Board Meeting commenced at 12:00 noon and concluded at $2.15. \rho m$ .

You are requested to take the above on record and inform all those concerned.

Thanking You. Yours Faithfully FOR CORDS CABLE INDUSTRIES LIMITED xi Cords Cable Industries I ∀ee⁄n Sawhney Managing Director Enel:-:´as above

Works:

Industrial Area Chopanki, Bhiwadi, Distt. Alwar - 301707 (Rajasthan) Tel. No.: +91-7230003177 A INIT IV

CORDS CABLE INDUSTRIES LTD.

REGD. OFFICE: 94, 1st Floor, Shambhu Dayal Bagh Marg, Near Okhla Industrial Area Phase-III, Old Ishwar Nagar, New Delhi - 110020 Tel: +91-11-40551200; Fax: +91-11-40551281 Website : www.cordscable.com ; Email : ccil@cordscable.com CIN: L74999DL1991PLC046092

Annexure - I

Appointment of Mr. Rahul Mahnot (DIN: 00488475) as Independent Director subject to the approval of Shareholders with effect from June 30, 2021 for a period of One (1) years on the Board of the Company.

Reason for change viz.appointment, resignation,deathremoval,orotherwise;	Due to sudden demise of Mr. Om Prakash Bhandari, Additional Directorunder the category of Independent Director on April 24, 2021, there is arequirement to appoint a Director in the Board. Hence, Mr. Rahul Mohnot isappointed as Additional Director under the category of Independent Directorin place of Mr. Om Prakash Bhandari.
ofDate	w.e.f. June 30, 2021
appointment/cessation (as	Term : One (1) year, not liable to retire by rotation
оfapplicable) & term
appointment	Mr. Rahul Mohnot, 64 years, is a Fellow member of "The Institute of
Brief profile (in case ofappointment);	Chartered Accountants of India" and a Fellow member of "The Institute ofCompany Secretaries of India". He is a Master degree holder withspecialization in Personnel Management and Management Accountancy inthe year 1978. He also obtained certificate programme on CorporateGovernance from Indian Institute of Corporate Affairs and AdvanceManagement Programme from Harvard Business School, Boston.
	Mr. Rahul Mohnot has worked across multiple locations in diversifiedBusinesses of Aditya Birla Group and Shree Cement Ltd with experiencespanning 37 years ranging from Grey Cement, Chemicals, Metals, Mining &other allied industries, Textiles and White Cement with Value AddedProducts.
	In these assignments, he has handled Greenfield projects, brown fieldprojects, Loans Syndication, Manage Public Issues and Heading as a ProjectHead and in Operating Plants worked as Head of Finance & Commercialfunction, CFO, also successfully lead the team for hiving off variousuneconomical manufacturing operations.
	In recognition of outstanding contribution, the Chairman Aditya Birla Groupconferred with an award "Outstanding Leader" in 2013, which entitles forAdvance Management Program of 8 weeks duration at Harvard BusinessSchool. The citation of the award was "in identifying and leading strategicinitiatives around Greenfield projects, securitization of raw material inputand revamping critical logistic infrastructure and successfully leadingmultiple initiatives across Metals, Chemicals and Cement businesses".
	Sy Corde Cablo hidusty!

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KIL

Mr. Rahul Mohnot has been honored with many awards so far like :

• CSR Leadership Award by ABP News at Taj Lands End, Mumbai on 17-2-2016
• Leadership Excellence in Corporate Social Welfare/CSR by the Greatest Corporate Leaders of India at Taj Lands End, Mumbai on 14- $2 - 15$
• Certificate of Appreciation by National Awards for Manufacturing $\bullet$ Competition 2014-15
• Winner of Gold Award for Outstanding Achievement as HR Oriented $\bullet$ CEO by Greentech Foundation in 2014.
• Winner of Aditya Birla Group Chairman's Outstanding Leader Award $\bullet$ 2013
• The McClelland Institute's Outstanding Business Leadership Award $\bullet$ Certificate in Dec 2001

FOR CORDS CABLE INDUSTRIES LIMITED Fol Colds Cable Industries Light

Naveen Sawhney Managing Director

MDirector

$\bullet$

CORDS

Cords Cable Industries Limited

Registered Office: 94,1st Floor,Shambhu Dayal Bagh Marg, Near Okhla Industrial Area Phase-III, Old Ishwar Nagar, New Delhi-110020 Tel: 011-40551200 * Fax: 011-40551280/81 * E-mail: ccil@cordscable.comwebsite: www.cordscable.com * CIN: L74999DL1991PLC046092

Statement of Standalone Audited Financial Results for the Quarter and Year Ended 31st March, 2021

						IAMOUNT
						Rs In Lakhs)
Sl No	Particulars		Quarter ended Quarter ended	Quarter ended	Year Ended!	Year Ended
		31-03-2021	31-12-2020	31-03-2020	31-03-2021	31-03-2020
		Un-audited	Un-audited	Un-audited	Audited	Audited
	Income from Operations
	Revenue from Operations	10088.51	9007.95	9741.34	32337.00	42089.07
ΪI	Other Income	31.77	26.08	37.58	137.60	151.75
$\mathbf{H}$	Total Income (I+II)	10120.28	9034.03	9778.92	32474.60	42240.82
N	Expenses
	Cost of Material consumed	7752.40	6882.27	7041.98	24192.81	32585.62
	Purchases of Stock-in-Trade					z.
	Changes in inventories of Finished goods, Work in Progress & Stock in Trade	(396.56)	(76.61)	312.37	(29.99)	69.62
	Employees Benefit Expenses	546.67	544.17	622.69	1997.04	2349.60
	Finance Costs	698.63	634.16	664.25	2283.32	2561.83
	Depreciation & Ammortisation Expense	175.32	178.54	159.98	708.31	661.33
	Other expenses	1087.04	687.35	874.86	2704.03	2928.13
	Total Expenses(IV)	9863.50	8849.86	9676.13	31855.52	41156.13
v	Profit / (Loss) before exceptional items and tax (III - IV)	256.78	184.17	102.78	619.08	1034.69
VI	Exceptional items
VII	Profit before tax (V-VI)	256.78	184.17	102 78	619.08	1084.69
VIII	Tax Expense
	(1) Current Tax(including earlier year tax)	70.11	58.94	(58.26)	200.70	281.84
	(2) Deferred Tax Liability/(Assets)	(5.79)	(5.78)	(303.99)	(17.15)	(263.91)
	Total Tax Expenses	64.32	53.17	(372.25)	183.55	17.93
IX	Profit for the period from continuing operations (VII-VIII)	192.46	131.00	475.03	435.53	1066.76
x	Profit / (Loss) from discontinued operations
XI	Tax Expenses of discountinued operations
XII	Profit / (loss) from Discontinuing operations (after tax) (X-XI)
XIII	Profit / (Loss) for the period (IX + XII)	192.46	131.00	475.03	435.53	1066.76
XIV	Other comprehensive income.
	A. (i) item that will not be reclassified to profit or loss
	Remeasurement of Gratuity Fund/Defined benefit liabilities	20.61	(4.17)	(17.62)	8.10	(16.69)
	(ii) Income tax relating to Item that will not be reclassified to profit or loss
	Deferred tax Assest/(Liability) on above	(5.19)	1.05	4.50	(2.04)	4.20
	Net balance of Actuarial Gain/ (Loss) transfer to Other Comprehensive Income	15.42	(3.12)	(13.11)	6.06	(12.49)
	B. (i) Item that will be reclassified to profit or loss
	(ii) Income tax relating to Item that will be reclassified to profit or loss
XV	Total Comprehensive Income for the period (XIII+XIV) comprising Profit / (Loss) and othercomprehensive income for the period	207.88	127.88	461.92	441.59	1054.27
XVI	Paid-up Equity Share Capital(Face value of Rs 10/- each)	1292.78	1292.78	1292.78	1292.78	1292.78
XVII	Earnings Per Share (for continuing operations)
	(a) Basic	1.61	0.99	3.57	3.42	8,16
	(b) Diluted	1.61	0.99	3.57	3.42	8.16
XVIII	Earnings Per Share (for discontinuing operations)
	(a) Basic
	(b) Diluted
хіх	Earnings Per Share (for discontinuing and continuing operations)
	(a) Basic	1.61	0.99	3.57	3.42	8.16
	(b) Diluted	1.61	0.99	3.57	3.42	8.16

	Cords Cable Industries Limited
	Standalone Statement of Assets & Liabilities as at 31st March, 2021		(Amount
			Rs in Lakhs)
		As at	As ati
	Particulars	31-03-2021	31-03-2020
		Audited	Audited
	ASSETS
I.	Non-Current Assets	6808.53	7161.96
	(a) Property, Plant and Equipment	2461,85	2441.58
	(b) Right of use Assets
	(c) Financial Assets	172.97	167.90
	(i) Security DepositTotal Non-Current Assets	9443.35	9771,44
$\overline{2}$	Current Assets
	(a) Inventories	5855.25	5967.28
	(b) Financial Assets	40,25	36.42
	(i) Investments	10899.92	12060.27
	(ii) Trade receivables(iii) Cash and Cash Equivalents	66,12	17.03
	(iv) Bank balances other than(iii) above	1768.79	2406.13
	(c) Other Current Assets	1308.73	1267.65
	Total Current Assets	19939.06	21754,78
	Total Assets	29382.41	31526,22
Ħ	EQUITY AND LIABILITIES
$\mathbf{I}$	Equity
	(a) Equity Share capital	1292.78	1292.78
	(b) Other Equity	13279.29	12837.69
	Total Equity	14572.07	14130.47
$\boldsymbol{2}$	Liabilities
	Non-Current Liabilities(a) Financial Liabilities
	(i) Borrowings	2236.69	1194.63
	(b) Provisions	152.16	146.79
	(c) Deferred tax liabilities (Net)	550.36	565.47
	(d) Other non-current liabilities	1.87	1.87
	Total Non-Current Liabilities	2941,08	1908.76
	Current Liabilities
	(a) Financial Liabilities(i) Borrowings	5689.93	6660.90
	(ii) Trade payables
	(A)Total outstanding dues of Micro Enterprises & Small Enterprises	40.81	135,77
	(B)Total outstanding dues of Creditors other than Micro Enterprises & Small Enterprises	5112.14	7815.74
	(iii) Others Financial Liabilities	707.35	621.94
	(b) Provisions	19.99	45.03
	(c) Other current liabilities	299.04	207.61
	Total Current Liabilities	11869,26	15486.99
	Total Equity and Liabilities	29382.41	31526.22

		(AmountRs in Lakhs)
Patticulars	Year Ended	Year Ended
	31st March,	31st March,
	2021	2020
	Audited	Audited
CASH FLOW FROM OPERTING ACTIVITIES	519.09	1084.69
Net Profit before tax		$\epsilon$ .
Adjustments for:	708.31	661.33
Depreciation and amortisation of non-current assets	(1.26)	19.97
(Gain)/Loss on disposal of property, plant and equipmentFinance cost recognised in Profit & Loss	2283.32	2561.83
Remeasurement gain/(loss) on Defined benefit liabilities	8.10	(16.69)
Remeasurement of Investment (gain)/ Loss	(3.83)	3.15
Investment income recognised in profit & Loss	(104.58)	(135.20)
	280.27
Bad Debts	3789.41	4179.08
Operating profit before working capital changes
Adjustments for:(Increase)/decrease in inventories	112.03	15.23
(increase)/decrease in trade and other receivables	880.08	(712.10)
(Increase)/decrease in Loans & Advances/Other Current Assets	(46.15)	304.86
Increase/(decrease) in Trade/Other payables	(2741.00)	736.53
Cash generation from operating activities	1994 37	4523.60
Less: Direct taxes Paid	186.50	313.38
Net cash generation from operating activities	1807.87	4210.22
CASH FLOW FROM INVESTING ACTIVITIES
Payments for property, plant and equipment	(376.24)	(941.67)
Proceeds from disposal of property, plant and equipment	2.35	13.55
Proceeds / Payments to acquire financial assets (Fixed Deposit)	637.34	(402.61)
Interests received (on Fixed Deposits)	104 58	135.20
Payments / Proceeds on sale of financial assets (Units in Mutual Funds)		11.86
Net cash used in investing activities	368.03	(1183.67)
CASH FLOW FROM FINANCING ACTIVITIES
Borrowings (Net)	95.53	(469.72)
Interest & Finance Charges paid	(2222.34)	(2573.35)
Net cash from/(used) in financing activities	(2126.81)	(3043.07)
INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENT(A+B+C)	49.09	(16.53)
Cash and cash equivalents at the beginning	1703	33.55
Cash and cash equivalent at the close	66.12	17.03

• vii) The figures of the last quarter are the balancing figure in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year, which are subject to limited review.
• viii) The company has recognized Bad Debts amounting to Rs. 280.27 Lakhs during the financial year for trade debtors which were admitted with NCLT under IBC code,2016 and resolution scheme has been sanctioned by NCLT.

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The figures of previous quarters /year are reclassified,regrouped and rearranged wherever necessary so as to make them comparable with current period's figures. $\mathbf{x})$

The company does not have any other exceptional item to report for the above periods. x)

The above results are also available on company's website www.cordscable.com & on the stock exchange websitely xi)

Place: New DelhiDate: 30.06.2021

Alok Misra & Co.

Chartered Accountants

AD -13 LGF. Tanore Garden. New Delhi-110027 Website: www.caalokmisra.org E-mail: alok@caalokmisra.org caalokmisra@gmail.com

Tel: (0): 45631889 Cell.: 09650102777 09868012720

Independent Auditors' Report

Τ'n The Members of Cords Cable Industries Limited

Report on the Audit of Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of Cords Cable Industries Limited ("the Company"), which comprise the Balance Sheet as at 31st March, 2021, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year then ended, and a summary of the significant accounting policies and other explanatory information (hereinalter referred to as "Standalone Financial Statements").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2021, and its profit (including other comprehensive income), its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Financial Statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

Page 1 of 9

Rey Audit Matters

During our audit, we had not came across with any significant areas that require reporting under "Key Audit Matter" paragraph and hence we are not including the same in our audit report as per para (A59) of $SA701$ .

Emphasis of Matter

We draw attention to Note 9 of the financial statements, which states that balance with government Authorities includes Rs 234.64 Lakhs deposited with GST Department under protest for ITC disallowed by Department for the financial year 2017-2018 & 2018-2019 and same has been taken up at appropriate authority & at appropriate forum for recovery. Our opinion is not modified in respect of this matter

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134 (5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these standalone Ind AS financial statements that give a true and fair view of the financial position, financial performance (including other comprehensive income), cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards prescribed under Section 133 of the Act read with rule 3of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) amendment Rules, 2016.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities, selection and application of appropriate accounting policies, making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility for the Standalone Financial Statements

Our responsibility is to express an opinion on these standalone Financial Statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit of the Standalone financial statements in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the standalone Financial Statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the Standalone financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used

Page 2 of 9

and the reasonableness of the accounting estimates made by the Company's Board of Directors, as well as evaluating the overall presentation of the standalone tinancial statements.

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board's Report including Annexure to Board's Report, Business Responsibility Report, Corporate Governance and Shareholder's Information, but does not include the standalone financial statements and our auditor's report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Report on Other Legal and Regulatory Requirements

• 1. As required by the Companies (Auditor's Report) Order, 2016 ("the Order"), issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, we give in the "Annexure I", a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
• 1. As required by Section 143 (3) of the Act, we report that:
• (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.
• (b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
• (c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Cash Flow Statement and the Statement of changes in Equity dealt with by this Report are in agreement with the relevant books of account.
• (d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) amendment Rules, 2016.
• (e) On the basis of the written representations received from the directors as on 31 March 2021 taken. on record by the Board of Directors, none of the directors is disqualified as on 31 March 2021 from being appointed as a director in terms of Section 164 (2) of the Act.
• (f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure II" and
• (g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules. 2014 as amended, in our opinion and to the best of our information and according to the explanations given to us:

Page 3 of 9

• The Company has disclosed the impact of pending litigations on its financial position inIts standalone financial statements.
• ii. The Company did not have any long term contracts including derivatives contracts for which there were any material foreseeable losses.
• iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

For Alok Misra & Co.Chartered Accountants Firm's Registration No. 018734N

Ĺ.

miss CA/Alok Misra

Partner, M.No. 5001387(UBIN: 21500138AAAAGV5137)

Place of Signature: New DelhiDate: 30h June, 2021

ون باروفيات المراجي

Page 4 of 9

Annexure I to Independent Auditors' Report (Referred to in our report of even date)

The Company has maintained proper records showing full particulars, including $(a)$ quantitative details and situation of the fixed assets.

The fixed assets have been physically verified by the management at the reasonable $(b)$ Intervals, which in our opinion, is considered reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification

In our opinion and according to information and explanations given to us and on the $(c)$ basis of an examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.

The inventory includes finished goods, raw material and work in progress along with inventory of consumables and packing material. Physical verification of inventory has been conducted at reasonable intervals by the management and discrepancies noticed which were not material in nature have been properly dealt with in the books of accounts.

The Company has not granted loans (secured or unsecured) to companies covered in the register maintained under Section 189 of the Act. Accordingly, paragraph 3(iii) of the order is not applicable.

In our opinion and according to information and explanations given to us, the Company has complied with provisions of Section 185 and 186 of the Act in respect of loans, investments, guarantees, and security.

In our opinion and according to the information and explanations given to us, the Company has not accepted deposits, in respect of which, directives issued by the Reserve Bank of India and the provisions of Section 73 to 76 or any other relevant provisions of the Companies Act 2013 and rules framed there under, are not applicable on the company. No order had been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any other tribunal.

We have broadly reviewed the books of accounts maintained by the Company pursuant to the vi. . Rules made by the Central Government for the maintenance of Cost Records under section 148 of the Act, and are of opinion that prima facte, the prescribed accounts and records have been made and maintained, however, we have not made the detailed examination of such cost

vii (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, provident fund, employees' state insurance, income tax, sales tax, service tax, value added tax, duty of customs, duty of excise, cess, gst and other applicable material undisputed statutory dues have been deposited regularly during the year with the appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concerned i.e. 31st March, 2021, for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax, GST or other applicable material statutory dues which have not been deposited as on March 31, 2021 on account of any dispute except the followings.

Page 5 of 9

iv.

V.

讯。

ii.

Ť.

theNameofStatute	Nature of dues	Amount INRin Lakhs)	Periodtothe.whichamountrelates	whereForumdispute is pending
ExciseCentralAct, 1944	Excise Duties & ServicesTax
	Service TaxLess Already Deposit	33.75(.) 6.60	2012-2014	Case pendingbefore the CESTAT.New Delhi
Building and OtherConstructionWorker's WelfareCESS Act 1996	andOther.BuildingWorker'sConstructionWelfare CESS Rule 1998		2010-2011妥	Stay Order beforethe HIGHCOURT, Jaipur
	CESS AmountAdd: Interest	16:0429.42	2012-2013
		45.46
	Less: Already Deposit	$(-)16.04$
	Balance	29.42

• In our opinion and according to the information and explanations given to us, the Company has viii. not defaulted in repayment of dues to banks, financial institutions and debenture holders as at the Balance Sheet date.
• According to the information and explanations given to us, the term loans were generally ÎХ. applied for the purpose for which those are raised. The Company has not raised money by way of initial public offer or further public offer (including debt instruments) during the year.
• According to the information and explanations given to us, no material fraud by the Company or $\mathbf x$ on the Company by its officers or employees has been noticed or reported during the course of our audit.
• According to the information and explanations given to us and based on our examination of the хi, records of the Company, the Company has paid/provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act.
• хij. According to the information and explanations given to us, the Company is not a Night Company as prescribed under Section 406 of the Act. Accordingly, paragraph 3(xii) of the Order is not applicable to the Company.
• According to the information and explanations given to us, all transactions with the related хü. parties are in compliance with Section 177 and 188 of Act, where applicable and the details of related party transactions have been disclosed in the Standalone Ind AS Financial Statements as required by the applicable accounting standards.
• According to the information and explanations given to us and based on our examination of the xiv. records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

Page 6 of 9

According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

xvi.

$\mathbf{X}^{\mathbf{t}}$

According to information and explanations given to us, the Company is not required to be registered under Section 45 IA of the Reserve Bank of India Act, 1934.

For Alok Misra & Co. Chartered Accountants Firm's Registration No: 018734N

CA/Alok Misra Partner, M.No. 500138(UDIN: 21500138AAAAGV5137

Place of Signature: New DelhiDate: 30th June, 2021

Page 7 of 9

Annexure II to Independent Auditors' Report- 31 March 2021 (Referred to in our report of even date)

Report on the Internal Financial Controls under Clause (I) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of Cords Cable Industries Limited as at 31st March, 2021 in conjunction with our audit of the Standalone Financial Statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India ("ICAI"). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company's policies, the sateguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by ICAI and deemed to be prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting.

Meaning of Internal Einancial Controls over Financial Reporting

A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over financial reporting includes those policies and procedures that:

Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the $(a)$ transactions and dispositions of the assets of the company.

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provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

Provide reasonable assurance regarding prevention or timely detection of unauthorized $(c)$ acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting but requires more strengthening and such internal financial controls over financial reporting were operating effectively during the period ended 31st March 2021, based on the internal control over financial reporting criteria established by the Company consisting the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting Issued by the Institute of Chartered Accountants of India.

For Alok Misra & Co. Chartered Accountants Firm & Registration No. 018734N

WUUWA

Á. Alok Misra Partner, M.No. 500138 (UDIN: 21500138AAAAGV5137

Place of Signature: New Delhi Date: 30th June, 2021

a ang pagpalawan

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$\overline{(\overline{D})}$

CORDS CABLE INDUSTRIES I

REGD. OFFICE: 94, 1st Floor, Shambhu Dayal Bagh Marg. Near Okhia Industrial Area Phase-III. Old Ishwar Nagar, New Delhi - 110020 Tel: +91-11-40551200; Fax: +91-11-40551281 Website: www.cordscable.com : Email : ccil@cordscable.com CIN: L74999DL1991PLC046092

Date: 30.06.2021

Asst. Vice President	1 Asst. General Manager
National Stock Exchange of India Ltd.	Dept of Corp. Services,
Exchange plaza, Bandra Kurla Complex	BSE Limited
Bandra (E)	P.J. Towers, Dalal Street, Fort,
Mumbai - 400 051	1 Mumbai: 400001.

Subject: Declaration on Audit Report with unmodified opinion(s)

Dear Sir,

Pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ("Listing Regulations") as amended, we hereby declare that M/s Alok Misra & Co. (FRN: 018734N), the Statutory Auditors of the company have issued an Audit Report with unmodified opinion with respect to the Audited Financial Results of the Company for the quarter and financial year ended March 31, 2021.

You are requested to take the above on record and inform all those concerned.

Thanking You.

Yours\Faithfully, FOR CORDS CABLE INDUSTRIES LIMITED Ros Cords Cable Industries Ltd Naveen Sawhney (Managing Director)

Works:

(UNIT I): A-525, E-518, 519, 520, Industrial Area Chopanki, Bhiwadi, Distt. Alwar - 301707 (Rajasthan) Tel. No.: +91-7230003177